Kewego, an internet video company based in Paris, raised $6.2 million (4.7 million Euros) from Banexi Venture Partners and CDC Entreprises.
Press release: Kewego, the European leader in management, broadcasting and monetisation solutions for videos on the Internet, intranets and screen networks, announces fundraising of 4.7m Euros subscribed by the company’s historic shareholders: Banexi Venture Partners and CDC Entreprises, a subsidiary of Caisse des Depots et Consignations (through the France Investissements team).
This transaction enables Kewego to reinforce its leading position in Europe and to continue its rapid development. This marks the end of an exceptional year in terms of revenue. The company recorded turnover for 2008, both in France and internationally, of over 5.4m Euros – a 60% growth between 2007 and 2008*. The company will be profitable on a full year basis in fiscal 2009.
Today, Kewego has more than 350 live customers in over 20 including media groups (Orange, M6, TF1, France Televisions, Daily Express, Motorpress Iberica, Gruner + Jahr, etc.) and major corporations (AXA, Peugeot, Telecom Argentina etc.)
Since its creation in 2003, Kewego, who has more than 55 employees, has invested massively in research and development, to create one of the most powerful video broadcasting solutions in the world. In December 2008, over 17m Internet users watched videos using solutions offered by Kewego (Internet source: Google Analytics).
* on a comparable scope of activity.
Created in 2003, Kewego offers professional solutions for managing, broadcasting and monetising videos on the Internet, intranets and screen networks. These solutions are designed for the media, companies and communication agencies. Kewego is represented in over 20 European countries and has 350 reputable partners, including M6, Gruner + Jahr, France Televisions, Orange, Metro, Peugeot, etc.